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HY Markets Products - Equities
Market Commentary Friday 30 July 2010
 
 
U.S. STOCK MARKET INDICES
 
DJI closed lower on Thursday as it extends this week's decline. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that additional gains are possible near-term. If the Dow extends this month's rally, June's high crossing is the next upside target. SPI closed slightly lower due to profit taking on Thursday as it consolidates some of this month's rally. The mid-range close sets the stage for a steady opening on Friday. However, stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. NDI closed lower on Thursday as it extends this week's decline. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are turning bearish signalling that a short-term top might be in or is near.

 


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